According to Realtor.com, Phoenix, and Scottsdale, Arizona ranked #1 as the top real estate markets for 2017. Overall they’ve predicted a slight slowdown for the US real estate market as a whole this year, however, the hottest markets are located out west.
Of the top 10 markets all benefited from strong growth dynamics such as population, jobs, and households. All generally had low unemployment and this bolstered consumer confidence.
Of the top 25 metro markets, 11 were located in the western US and the top 10 are forecasted to see average price gains of 5.8% and sales growth of 6.3%, these numbers exceed national growth expectations of 3.9% and 1.9% respectively.
Realtor.com went on to say, “the top 10 metro markets have different buying patterns and price levels, Smoke notes. Millennials are more of a buying force in Boston and Los Angeles, while retiring boomers make their presence felt in Phoenix; Jacksonville and Orlando, FL; Raleigh, NC; Tucson; and Portland, OR. Veterans, meanwhile, come out in force in Jacksonville and Tucson.”
At Semper Find My Home, we’ve seen a large and steady increase of veterans utilizing their VA benefits to purchase homes, particularly in and around Luke AFB because of the F-35 program bringing so many jobs there and because so many veterans are getting out of the service and moving to where homes are more affordable. Not to mention in surrounding cities like Mesa, Chandler, Buckeye, Gilbert, Tempe, Glendale and Litchfield Park to name a few.
If you have any questions regarding buying, selling or renting in and around Phoenix and are a veteran or first responder give us a call we’d love to help you.